Apple (AAPL) Buys Cloud Based Music Site
Apple (NASDAQ:AAPL) customers who want to buy and play music and video from the iTunes store have to download it to their iPods or iPhones. The huge consumer electronics company is buying Lala. The small company allows its customers to…
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CNET reports that Apple’s managers are very interested in working with Lala’s engineers, who have come up with “a payment and fulfillment system that could save Apple millions of dollars a year.”
Apple almost never buys companies, so the Lala business operation and technology must have very substantial value to it.
The cloud computing aspect of the Lala system would allow people to buy content from iTunes and move it to their multimedia players, PC, and other devices like gaming platforms. It would take the already dominant iTunes operation and future increase the footprint of machines that could use the service.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
